Thursday, July 20, 2006
More Bang for Your Buck: Wedding Gowns and Rings
A wedding dress is usually something women wear once and keep forever. But if you need extra cash, it may be time to sell your gown or engagement ring. In tonight's More Bang For Your Buck, we're going to show you how to make money off of matrimony.
WSVN--Although it's been almost 30 years since her wedding, Betsy Hames remembers the day perfectly, especially what she wore.
Betsy Hames: "It was simple but elegant. It had a beautiful long train. The pearls that were sow in. It was just, just gorgeous."
But as the years went by, that gorgeous gown became less of a keepsake, and more an inconvenience.
Betsy Hames: "It was definitely taking up a lot of room because of the size of the box was about a quarter of the closet."
So when she decided to divorce herself from the dress, her first thought was selling it to a consignment store.
Kim Cera: "If its in mint condition, its not yellowed, its the style that's hot right now, you can actually make a profit on your wedding gown."
Kim Cera of C-Madeline's says right now, the older the dress the better.
The 20's and 30's are especially popular but so are the 70's.
Kim Cera: "Vintage right now its very hot, and older pieces are selling for a lot more money than they are originally purchased because of the work and the beading, and the craftmanship."
Plus - people will pay for a name.
Designer tags are fetching anywhere from 15 hundred to 3 thousand dollars.
"It's important when it comes to value. you know we can get more for a designer piece."
But be patient, when consigning expensive items, you get paid when the dress sells.
Just don't forget about offering accessories too.
Kim Cera: "We move the wedding bags, shoes, and vials very quickly."
Of course, the biggest accessory of them all is the engagement ring.
If you're looking for a quick fix, try to resell the ring from where it was purchased.
Fay Cullen: "If the seller isn't interested in buying it back that's a pretty good sign you're not going to get much for it."
Fay Cullen runs the jewelry website fay cullen.com.
She says most jewlers will determine the ring's worth by the cut of the diamond, the color of the diamond, if it's signed by a designer like Tiffany's, and if the period it was made is popular today.
Fay Cullen: "Art deco right now is in. It's been in for a long time."
If you're still not satisfied, try the internet.
When listing an item on Ebay or Craig's List, use a generic picture, provide specific detail, and don't include any personal stories.
Fay Cullen: "I did consider reselling but I didn't want it to go to just anyone."
After weighing her options, Betsy said "I do" to giving her gown to a charity called Making-Memories.
It sells donated dresses then uses the money to grant wishes for women with terminal breast cancer.
Betsy Hames: "By donating a dress or making a donation, they will have a moment that they and their families can take forever."
If you are considering selling a dress, remember now through October is prime time for retailers.
FOR MORE INFORMATION:
13702 Biscayne Blvd.
N. Miami Beach, FL
A dress has to be 10 years old to be consided vintage.
Toll Free: (888) 329-7269
International: (305) 865-6567
Fax: (305) 865-6938
12708 SE Stephens Street
Portland, Oregon 97233
503-252-3955 Message Only